Investors start doubting oil rally after failure to top $55

Monday, March 6, 2017, 12:49 PM

The oil market’s failure to break out of the tight range in more than a decade, is sapping investor interest. After hitting a record high last week, hedge funds reduced wagers that U.S. oil prices would rise as concern grows that the market is again becoming vulnerable to a drop. Earlier bullish sentiment was based on optimism that OPEC production cuts would ease supply